“Greenwich Home Sales Jump as Buyers See Tax Break, Better Prices…”
So states Bloomberg in an October 18th article. The article goes on to report that single-family sales surged 26% in Greenwich—the best third-quarter results in 6 years—all good news. While we like the news and will take it, one has to peel the onion a bit more. For instance, it is worth noting that 3Q17 sales per the Bloomberg chart declined over 20%, so the quarterly comparison was fairly easy.
According to our analysis which includes both single-family homes and condos/co-ops data, the number of closed transactions increased 25% during the third quarter in Greenwich, while the total value traded increased 10% with average price per transaction declining 12%.
For the full 3Q2018 Centric Snapshot, please click here.